Satyam Marketing

Good decision making ability is the key to managerial success. Management is procedure of getting things done through employees by the manager who accomplishes these objectives by first creating a working environment and then directing the staff for optimum performance. It involves a series of decision matter like what, why, how, who and when of the situation he is in. Every manager spent his time in decision making process. Now a question arise that what is decision making process? This is an intellectual activity involving intense study and evaluation of various options available and selecting the most appropriate one. Any decision making process goes through following stages

1. Define the problem
2. Gather information
3. Generate alternatives
4. Shortlist the action alternatives
5. Evaluate options
6. Select best alternatives
7. Implement it

Different management theories describe decision making process in different manner so no absolute process is available in management.

Autocratic decision making: The manager solves the problem with the available information and news; he may or may not get information from his staffs.

Group decision-making: The manager shares the problem with group , asking them to create alternative solution and attempts to reach on a decision.

Consultative decision-making: The manager shares the problem with staffs, cumulates ideas and suggestions and then takes decision.

Delegative decision-making : manager delegates the entire problem to staffs and subordinates supports the decision taken by the subordinates.

Intuition: key to decision making

Intuition is the ability to apply life’s wisdom in making business decision. Gut feelings are a data too and often lead to sound decisions. A smart and visionary manager needs to look beyond the data to crave the future for his company by making the right decision at right time. Managing by intuition is gaining importance in companies across the world and has become the most sought after skill body. Intuition offers managers a conduit to their wisdom and one can sense it by inner tuning of ones self awareness and GOD gifts also.

So we can say that decision making process is more of an art and very little of science because with experience we become wiser, knowledgeable and intuitive. The process could take a scientific turn when we analyze the data with the help of mathematical and interpretation skills. Once a decision is made we use logic to support to it.

It is my personnel opinion that tossing a coin is best option in making a final decision.